Housing
starts in the US jumped 16.9 percent from a month earlier to a seasonally
adjusted annual rate of 1.608 million units in December 2019, the highest level
since December 2006. It was also the largest gain since October 2016 and followed
a revised 2.6 percent rise in November. Single-family home-building climbed 11.2
percent to 1.055 million units, the highest since June 2007.
Starts
for the volatile multi-family housing segment surged 29.8 percent to 553
thousand units. Housing starts rose across all regions: the South (9.3 percent
to 810 thousand); West (19.8 percent to 411 thousand); Midwest (37.3 percent to
254 thousand); and Northeast (25.5 percent to 133 thousand). Considering 2019
full year, housing starts were up 3.2 percent to an estimated 1.290 million
units. Housing Starts in the United States averaged 1429.59 Thousand units from
1959 until 2019, reaching an all-time high of 2494 Thousand units in January of
1972 and a record low of 478 Thousand units in April of 2009.
The
Median (50th %ile) Price of a Single Family Home.
June 1963
$17,200.
June 1970
$23,800
June 1980
$64.900
June 1990
$125,000
June 2000
$160.100
June 2010
$219,500
June 2019
$311,800
US
Mortgage 30 Year Fixed Interest Rate
Jan
2015 3.66%
Jan
2016 3.97%
Jan
2017 4.20%
Jan
2018 3.95%
Jan
2019 4.51%
Jan
2020 3.72%
Single
Family Home Ownership expands family wealth and is the most important purchase
a family can make, because these homes appreciate in value and can be paid off
completely in 15 years. Home mortgages are typically $1500 per month or $18,000
per year or $270,000 over 15 years. Once mortgages are paid off, families can
remove this cost from their annual budgets.
Norb
Leahy, Dunwoody GA Tea Party Leader
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